FLEX Forms Big Continuation Pattern
Flextronics (FLEX) hit a 52-week high in June and then formed an extended consolidation that looks like an inverse head-and-shoulders pattern. It is not picture perfect, but the "essence" of the pattern is there. There is a prior uptrend, a left shoulder dip, a deeper dip for the head and a right shoulder dip. The red area marks neckline resistance and a break above 11.50 would confirm this pattern. Note that I made a judgment call and drew through the September spike. Also note that On Balance Volume (OBV) is bullish because it broke out in late October.
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